Hungary’s level of economic development needs to move close to that of euro zone countries before it can consider adopting the common currency, economy ministry state secretary András Tállai said in a written response to an opposition MP posted on the website of parliament.

Pénzügykutató expects Hungary’s GDP growth rate to slow to 2.2% this year from 3.1% in 2015, due to dropping investments, before accelerating to 3% next year, the economic research company said in a forecast. Performance in the first half of this year has made it clear that growth will grind to a halt as soon as the inflow of EU funding stops, the researchers said.

"The European Union has broken up into four or five well-definable groups with respect to the health of their economy and the fiscal policy they had chosen to adopt in a bid to remain standing amidst the strong winds of the crisis. Hungary is not in any of these.

"Hungarian version
The earlier path of financing growth from foreign borrowing can no longer be sustained in Hungary, the National Bank of Hungary (NBH) said in its Report on the Convergence Process published on Wednesday. Reducing Hungary’s public and external debts is the key to sustainable growth and successful euro adoption. In other words, the economy will need to rely on a greater ...

"The global financial crisis has caused a further setback to euro adoption timetables in most EU member states in central and eastern Europe (CEE), owing to a marked widening of budget deficits and higher sovereign bond spreads, Fitch Ratings has said in a new report on Thursday. The exception, in the rating agency’s view, is Estonia, which Fitch expects to join the euro area in January 2011.

"The market has raised its deficit forecast for 2010 for the sixth month in a row, a Reuters poll conducted between March 22 and 25 and published on Thursday showed. According to the consensus forecast of analysts, the central bank (NBH) will continue its rate cut cycle next Monday, with only three of the 27 respondents projecting unchanged rates.

"Hungary would still be on the verge of sovereign default if it was not for the IMF credit, said Zsigmond Járai, former Governor of the central bank (NBH). He also told a conference in Budapest on Tuesday that the c.bank pursued a wrong monetary policy and that it should have lowered interest rates drastically. He noted that Hungary would need to rewrite its Convergence Programme as quickly as ...

Hungary’s level of economic development needs to move close to that of euro zone countries before it can consider adopting the common currency, economy ministry state secretary András Tállai said in a written response to an opposition MP posted on the website of parliament.

Pénzügykutató expects Hungary’s GDP growth rate to slow to 2.2% this year from 3.1% in 2015, due to dropping investments, before accelerating to 3% next year, the economic research company said in a forecast. Performance in the first half of this year has made it clear that growth will grind to a halt as soon as the inflow of EU funding stops, the researchers said.

"The European Union has broken up into four or five well-definable groups with respect to the health of their economy and the fiscal policy they had chosen to adopt in a bid to remain standing amidst the strong winds of the crisis. Hungary is not in any of these.

"Hungarian version
The earlier path of financing growth from foreign borrowing can no longer be sustained in Hungary, the National Bank of Hungary (NBH) said in its Report on the Convergence Process published on Wednesday. Reducing Hungary’s public and external debts is the key to sustainable growth and successful euro adoption. In other words, the economy will need to rely on a greater ...

"The global financial crisis has caused a further setback to euro adoption timetables in most EU member states in central and eastern Europe (CEE), owing to a marked widening of budget deficits and higher sovereign bond spreads, Fitch Ratings has said in a new report on Thursday. The exception, in the rating agency’s view, is Estonia, which Fitch expects to join the euro area in January 2011.

"The market has raised its deficit forecast for 2010 for the sixth month in a row, a Reuters poll conducted between March 22 and 25 and published on Thursday showed. According to the consensus forecast of analysts, the central bank (NBH) will continue its rate cut cycle next Monday, with only three of the 27 respondents projecting unchanged rates.

"Hungary would still be on the verge of sovereign default if it was not for the IMF credit, said Zsigmond Járai, former Governor of the central bank (NBH). He also told a conference in Budapest on Tuesday that the c.bank pursued a wrong monetary policy and that it should have lowered interest rates drastically. He noted that Hungary would need to rewrite its Convergence Programme as quickly as ...

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